Support Board
Date/Time: Wed, 27 Nov 2024 23:41:06 +0000
Post From: Oz MA Volume Multiplier Highlighter
| [2023-07-01 11:06:26] |
| Oz - Posts: 50 |
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Hi, I'm new to Sierra. I have a custom indicator on a different (Linnsoft) platform which I'd like to replicate in Sierra, however I'm not sure how to do this. I presume this can be done using some simple coding which I'm in the process of learning, however this task seems a little out of reach for me at this stage. Other users may also find this useful for identifying high and low volume bars. In short I call the study the OZMA Volume Multiplier Highlighter the study uses the MA (simple/close other MA's can be used) of the last 30 (variable) bars on volume (1m chart (time frame is variable based on chart)) to identify what the average volume is over the select period. I then used a variable multiplier(2) which is between 0.5-3.0 (depends on market conditions and what it is I'm wanting to see). To identify greater than normal volume the bar volume must be greater than MA value on volume x multiplier1. General setting would be (MA value x 1.5-3.0) Paint when volume is greater than To identify lower than normal volume the bar volume must be less than the MA value on volume x multiplier2. General setting may be (MA value x 0.5-0.7) Paint when volume is less than I then had the result paint or highlight the bars where this occurred. I also have the multiplier volume line plot on the volume region. Low volume bars where left hollow (or painted white or black depending on chart background). Higher volume bars painted a brighter color based on positive/negative close. The set was duplicated for (1)RTH and (2)outside RTH sessions as the variables are tighter during the Globex sessions due to reduced volume. I specified when (in time) to plot which set and when not to plot. Anything between the set bands MAx0.5 and MAx2.5 (or whatever setting is preferred) is considered normal, PS the multiplier variable can be changed based on market conditions. I found the high volume bar zones interesting area's to work off on retests and then at other times these where area's of rejection. Any assistance is greatly appreciated. A couple of examples attached. PS> Maybe there is a better way of identifying high volume/low volume bars on an intra-day basis, I'm interested in hearing your thoughts. Many thanks. Oz |
 OzMA Volume Multiplier Highlighter.png / V - Attached On 2023-07-01 10:56:49 UTC - Size: 152.66 KB - 107 views OzMA Volume Multiplier Highlighter2.png / V - Attached On 2023-07-01 10:57:12 UTC - Size: 448.85 KB - 106 views Attachment Deleted. |